October 5, 2010 4:40 PM

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CWG to add about $5 billion to Indian economy

The government says, the ongoing Commonwealth Games will add about 5 billion US Dollars to the Indian economy in the coming years. Inviting the business community of Commonwealth nations to invest in India, Minister of State for Agriculture and Consumer Affairs K V Thomas said, the games will create about 2.5 million jobs in the next few years. He said, opportunities for business during sports events are very large. In Delhi itself, the estimated investment in the city's infrastructure, sports venues and other necessities stand at close to 10 billion dollars. Thomas was speaking at the Commonwealth Business Forum in New Delhi today. The minister observed, the 12-day-long games will create a new brand image for India as a global player, strengthening the business partnership with Commonwealth Nations. Agriculture, infrastructure, modern technology, manufacturing and service sectors have huge opportunities and potential for the 71-nation Commonwealth grouping. He said, the business opportunities derived from agriculture in India are enormous and not sufficiently exploited by overseas businesses. He said that with the country's economy likely to grow by over 10 per cent in the next few decades. Two-way trade between India and Commonwealth nations currently stands at about 80 billion US Dollars, which is expected to grow manifold in the coming years.

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